Eric Gacuruzwa

London

Contributor at FurtherAfrica

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furtherafrica.com

Articles

Maurel & Prom to Expand Tanzania’s Gas Output with Mnazi Bay Drilling Campaig

1 week ago | furtherafrica.com | Eric Gacuruzwa

French energy firm Maurel & Prom (M&P) is set to kick off a new drilling campaign at Tanzania’s Mnazi Bay gas field in Mtwara this June 2025, reinforcing its long-term commitment to Tanzania’s energy sector. The development forms part of an ambitious $80 million investment announced in October 2024 to ramp up natural gas production across the country. The new campaign will include two infill wells (MB5 and MS2) and one exploration well (Kasa), extending into 2026.
Dangote’s Olokola Seaport Project Set to Transform Nigeria’s Logistics Landscape

1 week ago | furtherafrica.com | Eric Gacuruzwa

Aliko Dangote, Africa’s wealthiest man and the powerhouse behind Dangote Industries Limited, is once again reshaping Nigeria’s economic trajectory. In March 2025, Dangote unveiled plans to develop Nigeria’s largest private seaport at the Olokola Free Trade Zone (OKFTZ) in Ogun State—a bold move poised to revolutionise logistics, trade, and industrial development in the country. This is not just a typical infrastructure project.
AfricInvest’s Financial Inclusion Fund Secures €26 Million Commitment from Swedfund

2 weeks ago | furtherafrica.com | Eric Gacuruzwa

The drive to strengthen Africa’s financial services sector received a significant boost this week, with Swedfund, Sweden’s development finance institution, committing €26 million to AfricInvest’s Financial Inclusion Vehicle (FIVE). Established in 2017 by AfricInvest, a leading Pan-African investment platform, FIVE is dedicated to supporting financial institutions across Africa, with the goal of expanding access to finance for underserved individuals and small businesses.
Copper Price Rally: What Trump’s Tariff Pause Means for Africa

2 weeks ago | furtherafrica.com | Eric Gacuruzwa

The global base metals market received a much-needed boost on Thursday after U.S. President Donald Trump announced a 90-day suspension on newly imposed tariffs. The S&P GSCI Copper Index surged by 4.71% to 638.69 points, and London Metal Exchange (LME) copper prices jumped by 4.3% to $8,980 per metric ton.
Goldman Sachs Warns Brent Crude Oil Could Fall Below $40 by 2026

2 weeks ago | furtherafrica.com | Eric Gacuruzwa

Goldman Sachs has issued a stark warning that Brent crude oil prices could plunge below $40 per barrel by late 2026in what it describes as an extreme but unlikely scenario. The forecast, released in a note titled “How Low Could Oil Prices Go?” on 7 April 2025, reflects growing concerns over global economic uncertainties and shifting supply dynamics in the energy market.
Angola’s Sonangol Moves Closer to Landmark IPO to Boost Investment

2 weeks ago | furtherafrica.com | Eric Gacuruzwa

Angola’s state-owned oil company, Sonangol, has taken significant steps towards its planned initial public offering (IPO), marking a major milestone in the country’s efforts to attract investment and strengthen its global energy market presence. Sonangol is expected to offer up to 30% of its shares to the public, signalling a transformative shift in how national oil companies operate across Africa.
Verdant Capital Expands Investment in LOLC Africa to $13.5M

2 weeks ago | furtherafrica.com | Eric Gacuruzwa

Verdant Capital (www.Verdant-Cap.com) has announced the completion of an additional USD 4.5 million investment in LOLC Africa Singapore Limited, bringing its total investment in the company to USD 13.5 million. This follows an initial investment of USD 9 million finalised in June 2023.
Ethiopia Earns $70 Million from Carbon Trading

2 weeks ago | furtherafrica.com | Eric Gacuruzwa

Ethiopia has achieved a major breakthrough in global climate finance, generating approximately $70 million through carbon trading agreements with international partners. This milestone highlights the country’s rising profile in environmental stewardship and its growing engagement with the international carbon markets.
Private funding in African startups declined by 25% in 2024

3 weeks ago | furtherafrica.com | Eric Gacuruzwa

Private funding in African startups declined by 25% in 2024, reaching a total of $2.2 billion, compared to $3 billion raised in 2023. This drop reflects the growing challenges faced by startups across the continent in accessing capital—particularly in emerging regions and sectors. Despite this contraction, Kenya, along with Nigeria, Egypt, and South Africa (known as The Big Four), continues to dominate the entrepreneurial landscape, drawing 84% of all startup investment across the continent.
TOYO Solar to Invest Additional $47 Million in Ethiopia’s Growing Renewable Energy Hub

3 weeks ago | furtherafrica.com | Eric Gacuruzwa

Japanese renewable energy firm TOYO Solar has announced an additional $47 million investment to expand its solar cell manufacturing operations at the Hawassa Special Economic Zone (HSEZ) in Ethiopia. This brings the company’s total investment in the country to nearly $110 million, according to the Industrial Parks Development Corporation of Ethiopia (IPDC).